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Dec 6, 2012
12/12
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richard schimel is the e ex-brother in law. lock capital management. two of those had already closed. level global has closed, in fact one of us founders, andrew chasen is on trial right now. diamondback went down to about $2 billion, but as of this morning, that is no long ter case. the hedge fund saying that given redemption requests came in about 26% of total asset ors $520 million. it would be left with $1.45 billion apparently that's just not enough to run the successful hedge fund. they did have 140 or so people working for them. not sure how much they have trended that. as of now, their seven-year track record at this point. but they have spending redemptions as you might expect. rushing all of the assets to fund holders. often times in these cases, you'll see people run out and look at 13, and say oh, what are they going to be selling? but they have already sold a lot in anticipation. so don't look for any ability there to kind of drive them even further down, because oftentimes they will sell their biggest positions. nonetheless, another large
richard schimel is the e ex-brother in law. lock capital management. two of those had already closed. level global has closed, in fact one of us founders, andrew chasen is on trial right now. diamondback went down to about $2 billion, but as of this morning, that is no long ter case. the hedge fund saying that given redemption requests came in about 26% of total asset ors $520 million. it would be left with $1.45 billion apparently that's just not enough to run the successful hedge fund. they...
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Dec 31, 2012
12/12
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i asked folks on twitter for new laws they would like to see. this is one i'm talking about from @duck42l. mandatory jail time for creating new reality shows. from @macdsurry we haver. 20 to life for people that go to sub shops and go all deer-in highlights when asked what fixins they want on sub. and @guyadami says nba players should not be allowed by law to slap teammates hand. and finally, @osubmeyr says, congress works for free in 2013 since we paid them to do nothing in 2012. i think that would get 100% of the vote. >> good luck getting that through congress. jane, happy new year to you. jane wells in los angeles. >>> tweet time. the phrase that got the most nomination this is year on lake superior's list to banish fiscal cliff. what other phrases should be banned? tweet us @squawkstreet and we'll get your responses after the break. but she's still going to give me a heart attack. that's health in numbers. unitedhealthcare. >>> time for squawk on the tweet. the phrase of fiscal cliff is on the list of words to be banished. we have asked you
i asked folks on twitter for new laws they would like to see. this is one i'm talking about from @duck42l. mandatory jail time for creating new reality shows. from @macdsurry we haver. 20 to life for people that go to sub shops and go all deer-in highlights when asked what fixins they want on sub. and @guyadami says nba players should not be allowed by law to slap teammates hand. and finally, @osubmeyr says, congress works for free in 2013 since we paid them to do nothing in 2012. i think that...
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Dec 18, 2012
12/12
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that being said, there have been no laws at this point passed in any way, shape or form in terms of -- >> no guarantee there will be one. >> no. >> a leg up on what to expect this trading day. that is next. and later, getting into holiday spirits with a company known for absolute and we'll talk with brian frey. take a look at futures one more time. hopes for a deal on the fiscal cliff. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... all ] i'm with scottrade. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >>> we want to bring in or floor of operation
that being said, there have been no laws at this point passed in any way, shape or form in terms of -- >> no guarantee there will be one. >> no. >> a leg up on what to expect this trading day. that is next. and later, getting into holiday spirits with a company known for absolute and we'll talk with brian frey. take a look at futures one more time. hopes for a deal on the fiscal cliff. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in...
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Dec 7, 2012
12/12
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will the federal government seek to block the new law? we'll answer that. >>> let's get breaking news here. hedge fund john paulson hedge fund manager having another tough year. official numbers for the month of november. >> so november proved to be another difficult month for john paulson. his advantage fund which employees strategies from each of his individual strategies was down about 3.6% making it down more than 17% year-to-date through the month of november. that means his advantage plus fund which is a more levered version of that is likely now down more than 20% year-to-date through november. also his gold fund, a very difficult november down about 9.5% in gold, which leave it is down close to 30% year-to-date again through november. this is a very disappointing performance on an absolute basis but also on a relative basis. if you look at hrfx which is a hedge fund put together, it's flat and up about .4% year-to-date. certainly not screaming good performance but certainly better than how paulson is doing. and then if you look at
will the federal government seek to block the new law? we'll answer that. >>> let's get breaking news here. hedge fund john paulson hedge fund manager having another tough year. official numbers for the month of november. >> so november proved to be another difficult month for john paulson. his advantage fund which employees strategies from each of his individual strategies was down about 3.6% making it down more than 17% year-to-date through the month of november. that means his...
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Dec 12, 2012
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we cover politics, sports, media, law. it's an exciting opportunity. >> kevin, we'll be watching you very closely. trust me. kevin ryan, thanks so much for cupping in. >>> a new survey out this hour shows the corporate leaders are pretty cautious about next year. we'll talk to the president of the business roundtable, john engler. and the right to work law in michigan. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. fifteen minutes could save you fifteen percent or more. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to ca
we cover politics, sports, media, law. it's an exciting opportunity. >> kevin, we'll be watching you very closely. trust me. kevin ryan, thanks so much for cupping in. >>> a new survey out this hour shows the corporate leaders are pretty cautious about next year. we'll talk to the president of the business roundtable, john engler. and the right to work law in michigan. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing!...
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Dec 20, 2012
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they will see and everybody recognizes this plan b is not going to become law. then you'll have a resumption of negotiations over a large deal and if a deal can be struck, they'll pass it. if not, i think the administration is willing to go over the cliff having won the election, having offered what they think is a balanced plan and then believe that the greater heat will fall on republicans and we'll see what happens after january 1st. if it comes to that. >> do you believe, then that, we are entering a window, at least to next thursday, the 26th and 27th, where nothing happens? or is a plan a still happening somewhere under the radar. >> the latter. i think what is likely to happen is the house will leave. that always makes it a little bit easier for john boehner to talk to the white house because he gets so much heat from his members about things that are unpopular for them. this is a very small group of people making these decisions and they've got to figure out how they can orchestrate the followers to get to 218. that's an issue for the president, so a big
they will see and everybody recognizes this plan b is not going to become law. then you'll have a resumption of negotiations over a large deal and if a deal can be struck, they'll pass it. if not, i think the administration is willing to go over the cliff having won the election, having offered what they think is a balanced plan and then believe that the greater heat will fall on republicans and we'll see what happens after january 1st. if it comes to that. >> do you believe, then that,...
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Dec 13, 2012
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as you know, house republicans are in defense of that law. there was a $1.5 million cost cap outside counsel to fund that, but according to house democrats, that cost cap has decreased. do you is not the idea of raising that to pay for it? >> if the justice department is not going to enforce the law of the land, the congress will. thank you all. >> there's house speaker john boehner walking off the podium after handling a number of questions. what he seemed to underscore is the fact that there has not been much progress made. he said it is clear the president has not committed to cutting spending. the president needs to step up at this time and that the president is intent on slow walking the economy right up to the edge of the fiscal cliff. as for market reaction, markets taking a little bit of a pause here. we're off the session lows at this point. what was notable, though, was a pop in the volatility index. and that was up by 2% at last check. let's bring in john harwood to get more reaction to what speaker boehner just said. john. >> repo
as you know, house republicans are in defense of that law. there was a $1.5 million cost cap outside counsel to fund that, but according to house democrats, that cost cap has decreased. do you is not the idea of raising that to pay for it? >> if the justice department is not going to enforce the law of the land, the congress will. thank you all. >> there's house speaker john boehner walking off the podium after handling a number of questions. what he seemed to underscore is the fact...
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Nov 27, 2012
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from here is going out into the national governments and with the eu and getting some changes in the law that will allow for direct debt forgiveness. that's the problem. they can't do that. it's illegal right now. that's what you'll see. this was a big deal. the first step along the way to forgiving all of that greek debt. they're not going to repay the money. it's just going to go away over many, many years. let's move on and talk -- i'm telling you, it's a big deal on greece today. great news out of case-shiller. you want year over year changes. year over year up 3.6%. all right. it's not titanic. we had a big drop. it's continually moving in the right direction. home metricks moving in the right direction. you made a big deal over las vegas sands that came out yesterday. i added some of these up. certainly nice that it's happening. it's not amounting to a lot. there's not that many companies out there doing it. to me more important is getting a company to move dividend payments from january into december. even there a few companies are doing it. january of this year i checked on this
from here is going out into the national governments and with the eu and getting some changes in the law that will allow for direct debt forgiveness. that's the problem. they can't do that. it's illegal right now. that's what you'll see. this was a big deal. the first step along the way to forgiving all of that greek debt. they're not going to repay the money. it's just going to go away over many, many years. let's move on and talk -- i'm telling you, it's a big deal on greece today. great news...
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Dec 27, 2012
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the rule of law is not widespread enough in the continent. there is a glimmer of hope such as sun nish sha. countries such as egypt still questionable. we have seen mass rioting there and growing concerns whether the new rule of law and new constitution will effectively protect investors. >> just a few years ago, there were maybe 10 frontier emerging funds. now, there's more than 300. they're the hot thing. remember, even if there is growth there, very little liquidity. that's not a real place for mom and pop investors. that's still a white knuckle place even if there is growth. >> i'm looking at global industries 52 week highs, turkey, france, uk. lithuania, japan. can those do well? >> i think so. they're coming off their bottom. europe 20 through wh-- europe 2 what was our 2008. >> you think merkel gets re-elected? >> at this point. she seems to be doing okay. if merkel gets re-elected, she will be a major outlier. the general rule of thumb for almost all politician, you never survive a debt crisis. germany doesn't have a debt crisis, the
the rule of law is not widespread enough in the continent. there is a glimmer of hope such as sun nish sha. countries such as egypt still questionable. we have seen mass rioting there and growing concerns whether the new rule of law and new constitution will effectively protect investors. >> just a few years ago, there were maybe 10 frontier emerging funds. now, there's more than 300. they're the hot thing. remember, even if there is growth there, very little liquidity. that's not a real...
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Nov 26, 2012
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you get to debt exchanges such as what occurred with greece if this is the case and there can be case law said that you have to pay interest to those who didn't exchange, it may make those kind of exchanges far more difficult. >> i listened to your breaking story on friday. i said i don't understand the jurisdiction. how does a federal court tell argentina what to do? >> i think it also comes back to the payment bank of new york as the third party transferrer of funds from argentinean government forcing them to -- it's a good question. i can't say that i can absolutely answer it definitively for you. >> could the federal court order the deposition of the head of iraq? let's get him in here. let's depose him. >> there's some standing questions there. no question about that. >> i just find that argentina may be -- argentina is doing a lot of things behind the scenes with tariffs and very tough on american business people. are they going to say a federal court judge, they're going to hold us in contempt? what does he got? how many divisions does the federal court judge have? >> they can forc
you get to debt exchanges such as what occurred with greece if this is the case and there can be case law said that you have to pay interest to those who didn't exchange, it may make those kind of exchanges far more difficult. >> i listened to your breaking story on friday. i said i don't understand the jurisdiction. how does a federal court tell argentina what to do? >> i think it also comes back to the payment bank of new york as the third party transferrer of funds from...
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Sep 11, 2012
09/12
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two sides of the law. >> because he didn't -- that's right. the same federal government that put brad birkenfeld in jail for 31 months is now about to hand him a check for $104 million. and the irony is palpable here. birkenfeld not able to attend the press conference because he's on probation and home confinement. >> thank you. >>> well, waves of sale hitting high in retail after burberry warned the full year profit will come in lower than expected. cnbc's robert frank has got the details. robert. >> thanks, melissa. well, i've been warning of a luxury slowdown throughout the summer. and the reason is one word, that's china. the chinese wealthy, they've filled the gap in the last three years that was left by the americans and the europeans. china is now the world's second largest luxury market behind japan, spending $12 million a year on luxury. that may be slipping. those high rollers aren't rolling like they used to. we started to see it in the spring where we had disappointing wine auctions that sprung to different ticket auctions. sales f
two sides of the law. >> because he didn't -- that's right. the same federal government that put brad birkenfeld in jail for 31 months is now about to hand him a check for $104 million. and the irony is palpable here. birkenfeld not able to attend the press conference because he's on probation and home confinement. >> thank you. >>> well, waves of sale hitting high in retail after burberry warned the full year profit will come in lower than expected. cnbc's robert frank has...
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Dec 11, 2012
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doesn't want a deal. >> reporter: his contention is it's worked in florida where they do have sunshine laws. >> great. but i just think that at this stage of a fiscal cliff to go and have a -- what are we going to have? a reality show here? let everybody and their brother show up? we'll have snooki -- >> "jersey shore" all over again. >> "housewives of washington, d.c.." they can come in, too. >> reporter: not a bad idea. >> that's great entertainment. but part of our problem with governing today is some people view this as entertainment. there are real people out there that are suffering. there's going to be as you know better than anyone real consequences if this thing doesn't get settled in a very short period. that's not right. this is what people were elected to do. do the hard things. make the tough decisions and move on. the american people want that. >> reporter: bill, we had senator conrad with us earlier today. he suggested along with senators warner and senators corker that if we don't get $4 trillion plus in terms of the total package that's between revenue cuts -- or spending c
doesn't want a deal. >> reporter: his contention is it's worked in florida where they do have sunshine laws. >> great. but i just think that at this stage of a fiscal cliff to go and have a -- what are we going to have? a reality show here? let everybody and their brother show up? we'll have snooki -- >> "jersey shore" all over again. >> "housewives of washington, d.c.." they can come in, too. >> reporter: not a bad idea. >> that's great...
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Dec 21, 2012
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, lawful people will protect us where 20,000 other laws have failed. as brave and heroic and as self-sacrificing as those teachers were in those classrooms, and as prompt and professional and well trained as those police were when they responded, they were unable through no fault of their own unable to stop it. as parents, we do everything we can to keep our children safe. it's now time for us to assume responsibility for our schools. the only way -- the only way to stop a monster from killing our kids is to be personally involved and invested in a plan of absolute protection. the only thing that stops a bad guy with a gun is a good guy with a gun. would you rather have your 911 call bring a good guy with a gun from a mile away or from a minute away? now, i can imagine the headlines, the shocking headlines you'll print tomorrow. more guns, you'll claim, are the nra's answer to everything. your implication will be that guns are evil and have no place in society, much less in our schools. but since when did the gun automatically become a bad word? a gun
, lawful people will protect us where 20,000 other laws have failed. as brave and heroic and as self-sacrificing as those teachers were in those classrooms, and as prompt and professional and well trained as those police were when they responded, they were unable through no fault of their own unable to stop it. as parents, we do everything we can to keep our children safe. it's now time for us to assume responsibility for our schools. the only way -- the only way to stop a monster from killing...
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Dec 17, 2012
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democratic senator from virginia is calling for a bipartisan conversation on reforming gun laws. senator mansion joins us this morning. good to have you with us. good morning. >> thank you, carl. good to be with you. >> this is a bit of a statement coming from you, obviously you've been endorsed by the nra, used pictures of you holding guns in campaign material. can you walk us through the thought process that leads you to this conversation? >> carl, first of all, as a parent and as a grandparent, and the people of west virginia, our hearts go out -- i mean, i can only imagine -- i can't imagine the grief and pain that these family members, and this entire country is mourning right now. we're all hurting. with that being said, i am a proud member of the nra, and there's an awful lot of good quality people that are great members of the nra for the right reason, to protect the second amendment. we're not talking about infringing on the second amendment rights at all. what we're talking about is having not only dialogue, but movement towards the types of weapons that you're seeing b
democratic senator from virginia is calling for a bipartisan conversation on reforming gun laws. senator mansion joins us this morning. good to have you with us. good morning. >> thank you, carl. good to be with you. >> this is a bit of a statement coming from you, obviously you've been endorsed by the nra, used pictures of you holding guns in campaign material. can you walk us through the thought process that leads you to this conversation? >> carl, first of all, as a parent...
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Dec 5, 2012
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as i said, there's been a coordinated crackdown around the world of anti-bribery law in the u.k. and a big run in russia. corruption is everywhere. >> why isn't the united states further up the ranking? >> part of the problem and united states is always ranked around this area below top 10%. what they say is a lot of it has to do with just corruption not being enough of a priority. they say that the financial crisis changed some of that and people are starting to pay attention and citing a poll that 80% of americans believe that the financial crisis was the result of some public corruption. so it's more in the consciousness there and that affects the perception. it still has a long way to go. >> fascinating. thanks very much. >>> still ahead this morning, we've seen a wide range of companies unloading special dividends this quarter. have the nonissuing companies now made the wrong move. we'll take a deeper dive into that and talk about names that have yet to declare one and what it means for them ahead of the fiscal cliff. try running four.ning a restaurant is hard, fortunately w
as i said, there's been a coordinated crackdown around the world of anti-bribery law in the u.k. and a big run in russia. corruption is everywhere. >> why isn't the united states further up the ranking? >> part of the problem and united states is always ranked around this area below top 10%. what they say is a lot of it has to do with just corruption not being enough of a priority. they say that the financial crisis changed some of that and people are starting to pay attention and...
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Nov 7, 2012
11/12
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now we know they are going to stay law. that's it. it's over and done with that debate. you can make a decision one way or the other based on groups most affected by those laws which are coming into effect really in 2013 in their fullest way. positive or negative. >> we didn't know this time yesterday whether we would have hanging chad. i am old enough to say i covered the 1976 election. i had a headline that i wrote that says mississippi puts carter every the top. that's the stupid thing did you when you're young. you look back. 332 are going to go for obama. if ohio had closed at 7:00, virginia closed at 7:00 and we got instant tallies, you would have said what's on at 10:00? obama took it big. we lost indiana. that was a walkover. because of the way it's done, we sit there and we say oh, my. colorado. put him over the top. in 1976, i was such an idiot to write that headline about mississippi. i see other people following in my footsteps. >> the president did focus on really what the main economic issues in that brief clip that we had. tax reform. the budget deficit. i
now we know they are going to stay law. that's it. it's over and done with that debate. you can make a decision one way or the other based on groups most affected by those laws which are coming into effect really in 2013 in their fullest way. positive or negative. >> we didn't know this time yesterday whether we would have hanging chad. i am old enough to say i covered the 1976 election. i had a headline that i wrote that says mississippi puts carter every the top. that's the stupid thing...
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Nov 16, 2012
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then it was the labor law. and then you freeze up and companies freeze up and park money. very familiar scenario that we're seeing now. for growth, taxes matter the most. that's what we say in the 4% book. >> well, amity, it's been an absolute pleasure. and i'm really looking forward to the new book on president coolidge. >> the president saved in taxes. thank you. >> thank you. carl, back to you. >> anyone who hasn't read "the forgotten man" needs to. more from the white house when we come back. they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ you know it can be hard to lbreathe, and how that feels.e, together for your future. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-d
then it was the labor law. and then you freeze up and companies freeze up and park money. very familiar scenario that we're seeing now. for growth, taxes matter the most. that's what we say in the 4% book. >> well, amity, it's been an absolute pleasure. and i'm really looking forward to the new book on president coolidge. >> the president saved in taxes. thank you. >> thank you. carl, back to you. >> anyone who hasn't read "the forgotten man" needs to. more...
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Nov 30, 2012
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debt forgiveness is usually taxable but not under a tax relief law passed five years ago that, yes, expires at the end of next month. if it is not extended because of the fiscal cliff, debt relief will become taxable again and that will affect thousands and thousands of short sales and principal reduction loan modifications many under the big robo signing mortgage settlement. that settlement is why short sales have skyrocketed, surpassing foreclosure sales last june and keep on going. in nevada they made up 40% of october sales up from 34% a year ago. that according to lps home price index. now bank of america alone has done over 100,000 short sales so far this year. and i spoke to a rep there who says they are well aware of the potential looming tax risks as are their customers. they say they would love to ramp up short sales but they're already doing them as fast as they can. i ask what happens if the tax relief is not extended? the source told me i would expect we start to get more customers saying i've talked to my tax adviser and i'm going to opt out of that short sale and we'll just t
debt forgiveness is usually taxable but not under a tax relief law passed five years ago that, yes, expires at the end of next month. if it is not extended because of the fiscal cliff, debt relief will become taxable again and that will affect thousands and thousands of short sales and principal reduction loan modifications many under the big robo signing mortgage settlement. that settlement is why short sales have skyrocketed, surpassing foreclosure sales last june and keep on going. in nevada...
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Dec 24, 2012
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already in your portfolio, or will those be exempt and only for the issues that are bought once the law gets changed? >> nobody knows for sure. that brings up a very important point, which is historically, the treasury department has never imposed taxes on anything retroactively. so this would be a very bad precedent if they decide to apply this to existing bonds that are currently outstanding. what they ought to do is apply this, if they're going to do it, on a foregoing basis, the bonds issued after january 1st, 2013, for example. >> we're showing the picture of the mub, the etf that tracks the municipal bond market. we've seen it decline since the beginning of roughly december. i think a lot of people are concerned about this. but your point is, that perhaps if you buy this year, the treasury would not put taxes on those holdings, correct? which could be a good time to buy muni bonds. >> you're playing a gamble on whether or not the treasury is going to protect you for this year or not. personally, i'm a little bit more worried about the fact that the taxes could apply retroactively.
already in your portfolio, or will those be exempt and only for the issues that are bought once the law gets changed? >> nobody knows for sure. that brings up a very important point, which is historically, the treasury department has never imposed taxes on anything retroactively. so this would be a very bad precedent if they decide to apply this to existing bonds that are currently outstanding. what they ought to do is apply this, if they're going to do it, on a foregoing basis, the bonds...
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Nov 8, 2012
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. >> sounds like a large part of your argument is it's been long enough to have these laws not tied down, and not pinned down and not written, write? that's the problem. >> i say no more excuses. let's get on with it. it's been two years for dodd-frank and if you're regulators and let's get the laws written and eliminate some of the uncertainy and if you're the banks no more excuses also. at some point you have to play the ball where it lies and so it would be nice to get back to the business of banking because where we've come from is we're in a situation like japan and the real question is how much longer will we be like japan and what's worse than japan is the degree to uncertainty and look at this one example. the volcker rule was implemented to make banks safer and standard & poor's indicated they might downgrade the bank due to the volcker rule. nobody wanted that scenario. if they wanted to make it safer, let's make it safer and get it done. >> has political risk to the sector increased after tuesday night, yes or no? >> no. >> no one's been a bigger critic of the external risk to
. >> sounds like a large part of your argument is it's been long enough to have these laws not tied down, and not pinned down and not written, write? that's the problem. >> i say no more excuses. let's get on with it. it's been two years for dodd-frank and if you're regulators and let's get the laws written and eliminate some of the uncertainy and if you're the banks no more excuses also. at some point you have to play the ball where it lies and so it would be nice to get back to...
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Feb 3, 2012
02/12
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you can't stay with your mother-in-law forever. trust me. >> i was going to say. sounds like personal ex-peer yenlgs. clorox posting earnings. good news for clorox there. >> a stock again that probably the money shifts away from but i think now duncan house has done a remarkable job there because remember proctor didn't say this. colgate didn't say this. i think clorox is on the mend. by the way, dupont, we left that out. dupont is a company that is uniquely levered to housing and autos even though that had not been their thing talking about health sciences. that stock heads higher too. >> right. in terms of the banks today are you willing to say, you know, bank of america, jp morgan, goldman sachs, if you are to believe that the jobs report is a true tell on the economy then you got to be in the financials now. >> wells fargo. wells fargo took a gigantic amount of share. they were able to do it. the government, we talked about too big to fail. wells fargo was able to accumulate a level of mortgage business in this country that says it goes 330. wells fargo next s
you can't stay with your mother-in-law forever. trust me. >> i was going to say. sounds like personal ex-peer yenlgs. clorox posting earnings. good news for clorox there. >> a stock again that probably the money shifts away from but i think now duncan house has done a remarkable job there because remember proctor didn't say this. colgate didn't say this. i think clorox is on the mend. by the way, dupont, we left that out. dupont is a company that is uniquely levered to housing and...
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Aug 16, 2012
08/12
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i went to business school not law school. i believe the intent of sarbanes-oxley, when it was put into effect, when it became law to certify the financial statements as a result of many of the thing that happened, enron, tyco, worldcom the plan would be criminal charges would follow if you were the ceo or cfo you signed the certificate if -- certification. >> had they signed? the whole thing fell apart. they had the audit. >> now we're talking about a timing issue. if you remember what happened, melissa you probably remember. they did that big junk bond offering. i don't have the data right in front of me. it was in august of last summer when they priced that, was it a $400 million junk bond deal. i don't have the exact date. but, simon, to answer the question they had to know when they signed the certification in the summer of 2011, in my opinion, that there was concerns related to the mark to markets of certain assets which would be assets that they then had problems with in terms of where they were holding them. so i am no
i went to business school not law school. i believe the intent of sarbanes-oxley, when it was put into effect, when it became law to certify the financial statements as a result of many of the thing that happened, enron, tyco, worldcom the plan would be criminal charges would follow if you were the ceo or cfo you signed the certificate if -- certification. >> had they signed? the whole thing fell apart. they had the audit. >> now we're talking about a timing issue. if you remember...
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Dec 14, 2012
12/12
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i would also point out that the board has as well amended its buy laws to director nominations from the 22nd of february, to the 15th of march. >> that's interesting. >> and so let's say he makes a bid, it gets rejected, it would still allow schulze to potentially run a slate to compete to get board seats at best buy. a company which, by the way, he owns 20% of. that 20% stake has been falling in value, virtually every day, except for weird days like yesterday where it was up yesterday. >> good money after bad, my friend. good money after bad. >> more time and information, it seems like a $20 share bid is farther and farther away. >> one would imagine that would be the case, unless they had some sort of blowout christmas, or some sort of trajectory in sales, that is highly unexpected. the last word we got from the company is, hey, free cash flow is coming down. it still generates a good amount of cash. you have to think, maybe it's not completely inconceivable. there could be a bid. that's what private equity firms look like. when you watch that going this way, and if that continues, it
i would also point out that the board has as well amended its buy laws to director nominations from the 22nd of february, to the 15th of march. >> that's interesting. >> and so let's say he makes a bid, it gets rejected, it would still allow schulze to potentially run a slate to compete to get board seats at best buy. a company which, by the way, he owns 20% of. that 20% stake has been falling in value, virtually every day, except for weird days like yesterday where it was up...
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Nov 29, 2012
11/12
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. >> for the outfit that got hurt entry.ou did have to put in an >> not to mention a lot of law firms and things that were down here as well, had a lot of documents, old documents that were downstairs. >> we're still really figuring out what the impact of sandy was. >> a terrific article about stockton today, housing shortages happening in very strange areas, that was in bloomberg.com. the claims are still okay. they're not terrible. gdp was not bad. that's why again, if you settle the fiscal cliff, right now there's a combination of trying to pick up the pieces, which turn out to be harder and a sense of, well, wait a second, if you're a big company, why hire now if i'm going to have to fire later because of the cliff. >> in the premarket session, shares of tiffany taking a hit. the luxury goods taking a hit at 49 cents a share. also lowing it's full year forecast, with smaller than expected profit margins, it's a bad product mix in terms of higher priced items with lower margins. all of those things hitting them this morning. >> i really want to know, we have got two companies today
. >> for the outfit that got hurt entry.ou did have to put in an >> not to mention a lot of law firms and things that were down here as well, had a lot of documents, old documents that were downstairs. >> we're still really figuring out what the impact of sandy was. >> a terrific article about stockton today, housing shortages happening in very strange areas, that was in bloomberg.com. the claims are still okay. they're not terrible. gdp was not bad. that's why again, if...
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Dec 19, 2012
12/12
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plan b is not likely to become law. and i've got to tell you, carl, the more people i talk to on both sides, the more pessimistic they're getting. i still think the fundamentals exist for a deal. and sometimes the public posturing is stimf simply covered for private narrowing of differences. we've had a significant narrowing of differences. but at this moment we're still in the phase where both sides are pushing each other, testing each other and we'll see whether we can get an agreement in the next few deals to get a deal before the end of the year. >> is that pessimism based on staffers? or just your instinct, just your gut? >> it's instinct and it's also the fact that we have in fact seen the two sides move close together. remember, john boehner's complaint about the administration's offer of the other day was that it had more revenue than it had spending cuts. the administration says, well, no, actually, it has more spending cuts if you count interest savings than it does revenue. if they're haggling over the relati
plan b is not likely to become law. and i've got to tell you, carl, the more people i talk to on both sides, the more pessimistic they're getting. i still think the fundamentals exist for a deal. and sometimes the public posturing is stimf simply covered for private narrowing of differences. we've had a significant narrowing of differences. but at this moment we're still in the phase where both sides are pushing each other, testing each other and we'll see whether we can get an agreement in the...
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May 29, 2012
05/12
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why is it that possession nine-tenths of the law. you tell me that we could -- they should should have given that money back months and months ago. why is it still in contention? >> standard business practices in a bankruptcy or any kind of dispute is just grab as much money as they can and then make people sue them to get it back. so this $168 million was cash on hand. could have been returned months ago. and my sources tell me that they still have about $600 million in customer funds that were sent over from mf global to cover market costs. >> you're fairly optimistic. there's about $900 million left to make customers hole in the u.s. and between that $168 million and another $600 million you you believe in the uk we'll get, we're almost there, are we not? >> we're getting there. there's about 300 and if we can force jpmorgan to return the company, we can can 5at least ge u.s. customers whole. >> they're circulating a pace to get an i said council sell and doesn't smell right. how many of those signatures are democrats? >> zero dem
why is it that possession nine-tenths of the law. you tell me that we could -- they should should have given that money back months and months ago. why is it still in contention? >> standard business practices in a bankruptcy or any kind of dispute is just grab as much money as they can and then make people sue them to get it back. so this $168 million was cash on hand. could have been returned months ago. and my sources tell me that they still have about $600 million in customer funds...
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Feb 2, 2012
02/12
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one is the current law proposal which assumes for example that all the tax cuts are ended and that the doc fix is not adopted and so on. and then there was an alternative take thescenario -- >> we had testimony about both question. >> assumed all the tax cuts were extended and took the opposite approach. our numbers obviously are based on an intermediate level, assumes that some of these policies undertaken but not all of them and we try to make our best guess. but it's only staff guesses about what they think congress may do. and i don't think those forecasts -- the details of that are particularly helpful to you. you'll be trying to figure out what the right thing to do is. >> with regard to an issue we've discussed when you've been here on the committee before on whether the policies of the financial community concerning rewards and compensation for taking excessive risks rehe main a problem, you've issued a report in october dealing with that. it indicated there had been improvement, but among the largest banks, there continue to be a number of problems with regard to risk taking a
one is the current law proposal which assumes for example that all the tax cuts are ended and that the doc fix is not adopted and so on. and then there was an alternative take thescenario -- >> we had testimony about both question. >> assumed all the tax cuts were extended and took the opposite approach. our numbers obviously are based on an intermediate level, assumes that some of these policies undertaken but not all of them and we try to make our best guess. but it's only staff...
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Apr 3, 2012
04/12
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please, write something that really is a law. maybe the legislature needs to take a class on how to write something on 100 pages or less. spain's rates are going up, calling into question once again what's going on with funding issues in europe. carl, back to you. >> i love it when you quantico motown, too. >>> some clues, the march meeting released todaylty 2:00 p.m. eastern time. vince reinhart, joining us from morgan stanley, always good to see you. >> thanks for having me. >> you said in a note at the end of march that the spectrum of choices right now, with anywhere from inaction to qe3. do the minutes today narrow that universe down a bit? >> yeah. they will help. if there are embarking on qe3, they'll have to lay some groundwork in the minutes. they should have had a discussion at the last meeting, talking about the various alternatives. do they expand the balance sheet that is by securities with reserves or do they buy some things and sell some other things that is expand operation twist? >> so what do you expect that to
please, write something that really is a law. maybe the legislature needs to take a class on how to write something on 100 pages or less. spain's rates are going up, calling into question once again what's going on with funding issues in europe. carl, back to you. >> i love it when you quantico motown, too. >>> some clues, the march meeting released todaylty 2:00 p.m. eastern time. vince reinhart, joining us from morgan stanley, always good to see you. >> thanks for having...
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Jun 13, 2012
06/12
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al law. always somebody on the committee. someone on the committee that always kind of helps it all. makes it so that it's not so bad. >> he doesn't lack for confidence. i look forward to watching. >> i'm serious about this. because the shareholders have paid. these guys -- i'm sorry. you say i'm sorry, do you feel bad? is it like a crisis of confidence? is there some sort of -- do you have -- is this an existential moment for jamie dimon? >> you're like ali mcgraw. banking means you never have to say you're sorry? >> you say you're sorry. still get paid a lot of money. everyone else in america says i got to get that job. that job's a good job. i can screw up. hold billions of shareholders' pay. i make my money. what a super job. i want that job. i want that job. >> you got a pretty good one yourself. >> not bad. >>> want to move on here. we have some very exciting news on the home front this morning. cnbc, the world leader in business news is forming a strategic alliance with yahoo! finance, the leading online destination fo
al law. always somebody on the committee. someone on the committee that always kind of helps it all. makes it so that it's not so bad. >> he doesn't lack for confidence. i look forward to watching. >> i'm serious about this. because the shareholders have paid. these guys -- i'm sorry. you say i'm sorry, do you feel bad? is it like a crisis of confidence? is there some sort of -- do you have -- is this an existential moment for jamie dimon? >> you're like ali mcgraw. banking...
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Jul 25, 2012
07/12
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but he defended the dodd/frank law saying the dodd/frank law needs more time to work. geithner not calling for a reinstatement of glass/steagall. that's what the administration has been saying. >> going back to the libor question, is geithner saying he knew there was general manipulation of libor, that he fed back into the u.s. regulatory system or is he contradicting what is in "the washington post" today? he's saying they knew specifically that barclays was manipulating, insiders told him that and they did or didn't pass that into the system and therefore, for possible prosecution of barclays from the d.o.j.? >> reporter: clearly, the new york fed knew fairly early on that there was manipulation by barclays. we saw in some of the documents that have already come out e-mails -- transcripts of phone conversations between an official at the new york fed and an executive at barclays detailing exactly what barclays was doing. so the new york fed knew all along. but geithner is saying that some of his concerns were in the public domain. and he feels that he notified the ap
but he defended the dodd/frank law saying the dodd/frank law needs more time to work. geithner not calling for a reinstatement of glass/steagall. that's what the administration has been saying. >> going back to the libor question, is geithner saying he knew there was general manipulation of libor, that he fed back into the u.s. regulatory system or is he contradicting what is in "the washington post" today? he's saying they knew specifically that barclays was manipulating,...
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Mar 6, 2012
03/12
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do it and it is beyond my comprehension that we have a chairman who is essentially not obeying the law. he was told to come up with speculation limits, position limits. he hasn't done that, and what many members of the senate and the house are now saying, you have got to obey the law. do it and excessive speculation. >> senator sanders, thank you for your time. >> thank you. >> better than -- michelle will join us on the ground from greece. counting down to the european close in 11 minutes from now, 10 minutes. more squauk on the street straight ahead. but we couldn't simply repeat history. we had to create it. introducing the 2013 lexus gs, with leading-edge safety technology, like available blind spot monitor... [ tires screech ] ...night view... and heads-up display. [ engine revving ] the all-new 2013 lexus gs. there's no going back. our machines help identify early stages of cancer and it's something that we're extremely proud of. you see someone who is saved because of this technology, you know that the things that you do in your life, matter. if i did have an opportunity to meet
do it and it is beyond my comprehension that we have a chairman who is essentially not obeying the law. he was told to come up with speculation limits, position limits. he hasn't done that, and what many members of the senate and the house are now saying, you have got to obey the law. do it and excessive speculation. >> senator sanders, thank you for your time. >> thank you. >> better than -- michelle will join us on the ground from greece. counting down to the european close...
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Apr 24, 2012
04/12
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i went to harvard law school. watch out, mayor, you you're going to get more than you bargain for. >> the allegations are going to bolster your case. however, we'll see how the investigation turns out. senator vargas, thanks so much. >> thank you. i appreciate it. >>> markets are in rally mode. we'll talk about more about what is leading the charts. also, james murdoch taking the stand today facing tough changes about media ethics. what he has to say about the phone hacking scandal and we'll count you down to the close in europe. eight minutes and 20 seconds away. away. [ male announcer ] when a major hospital wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. [ yawning sound ] [ male announcer ] ...forbusiness.com. according to the signs, ford is having some sort of big tire event. i just want
i went to harvard law school. watch out, mayor, you you're going to get more than you bargain for. >> the allegations are going to bolster your case. however, we'll see how the investigation turns out. senator vargas, thanks so much. >> thank you. i appreciate it. >>> markets are in rally mode. we'll talk about more about what is leading the charts. also, james murdoch taking the stand today facing tough changes about media ethics. what he has to say about the phone hacking...
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Mar 28, 2012
03/12
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it's the first major pullback in securities law since dodd/frank was passed. president obama has signaled he'll sign the bill as well. >>> a group that includes former lakers star magic johnson and stan kaston agreed to buy the los angeles dodgers from frank mccourt for a record $2 billion. the dodgers said mccourt and certain affiliates of the purchasers would acquire the land surrounding dodgers stadium including the parking lots for $150 million. we know what kind of cash flow comes from the parking lots but for a team or a city that's been through a lot having magic's name attached to the dodgers after all this time, david, might be a big sigh of relief. >> it may be. of course, the regional sports network and what they can do there. but the number is unbelievable. you had another group come in, these guys knocked it out of the park to use a baseball analogy that they just stopped the auction. it's almost twice what's been paid for any other sports franchise. more than twice what was paid for the chicago cubs a few years ago. the number is staggering, carl
it's the first major pullback in securities law since dodd/frank was passed. president obama has signaled he'll sign the bill as well. >>> a group that includes former lakers star magic johnson and stan kaston agreed to buy the los angeles dodgers from frank mccourt for a record $2 billion. the dodgers said mccourt and certain affiliates of the purchasers would acquire the land surrounding dodgers stadium including the parking lots for $150 million. we know what kind of cash flow comes...
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Apr 23, 2012
04/12
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the law is the law. we are going to enforce it. do people have to be lobbied for perhaps more wiggle room in the implementation of this? >> they do. and companies are very concerned about the implications of this kind of law. they are working over exactly what is allowed and what is not allowed. one advantage for companies that have an aggressive compliance effort is if they are caught they can go to the department of justice and say this was a rogue operation. we have a huge compliance effort here in house. we train our people. we give them guidance and tell them this is not allowed. and the department of justice may look favorably on them if they got thought effort in place ahead of time. that's why they ought to be doing this before they get in trouble. >> a lot of legal sessions to sit through. thank you very much. >> as we go to break take a look at markets here. the dow is down 167. all 30 dow components in the red and s&p below the 1,370 level. we will talk to a man who has seen american corporations engage in bribery overse
the law is the law. we are going to enforce it. do people have to be lobbied for perhaps more wiggle room in the implementation of this? >> they do. and companies are very concerned about the implications of this kind of law. they are working over exactly what is allowed and what is not allowed. one advantage for companies that have an aggressive compliance effort is if they are caught they can go to the department of justice and say this was a rogue operation. we have a huge compliance...
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Feb 15, 2012
02/12
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mark law is the ceo. and joins us here. >> good morning. >> the flagship was diapers.com, which is everything for baby. then we launched soap.com, which is basically online drug story, wag, yo-yo recently a toy store. we have a beauty bar, and now today we launched casa.com, 35,000 home products, everything from bed, bath and beyond. >> i think i've heard that one. >> you were bought by amazon. why maintain these other names, web sites rather than kind of nodding to amazon each time? >> we're focused on the mom demographic, and our mission is to make moms' lives easier. >> if i'm a mom and want to buy diapers, soap and facial lotion, do i have to log into each individual? >> that's the beauty of the platform. there's a tab at the top, so you can shop on one side, have a personalized shopping experience, click over and it's the same shopping cart, same account, so it makes it seamless. >>> not seven interference from amazon? >> it's been a great relationship. >> what do you get out of it? >> yeah, it's bee
mark law is the ceo. and joins us here. >> good morning. >> the flagship was diapers.com, which is everything for baby. then we launched soap.com, which is basically online drug story, wag, yo-yo recently a toy store. we have a beauty bar, and now today we launched casa.com, 35,000 home products, everything from bed, bath and beyond. >> i think i've heard that one. >> you were bought by amazon. why maintain these other names, web sites rather than kind of nodding to...
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Feb 7, 2012
02/12
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tim seymour is the founder of emother-in-laws money.com. ambassador, good to see you. >> good morning, mel. >> e.m. came out as number one here. >> currencies, if you get them right, you have half your return profile, at least if you look back over the last ten years. so 2011 were destroyed by deleverages, certainly an unwind, but at the end of the day this is what we call a generational opportunity, emerging market opportunities are going higher, because these are fiscally sound governments, better debt to equity gdps, excuse me ratios, that have much more sound fiscal policy, so you're getting monetary easing, because inflation is nonexistent. food inflation, the biggest part of the inflation basket, you're going to see possibly 4% inflation in russia this year, which is record levels. brazil will go 1.25 probably on inflation, which allows the central bank to continue to cut rates. ultimately this is a retail trade. ultimately this is an opportunity for people to get into emerging markets and ride this trade. what i would say is currenci
tim seymour is the founder of emother-in-laws money.com. ambassador, good to see you. >> good morning, mel. >> e.m. came out as number one here. >> currencies, if you get them right, you have half your return profile, at least if you look back over the last ten years. so 2011 were destroyed by deleverages, certainly an unwind, but at the end of the day this is what we call a generational opportunity, emerging market opportunities are going higher, because these are fiscally...
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Mar 30, 2012
03/12
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the broader market as the supreme court hears arguments about the health care law. aetna all outperforming. reports that mastercard and visa are part of a major security breach. on that note, let's get to mary thompson who has details on that. carol? >> mastercard says importantly that its own systems have not been breached. rather, reportedly, this came from a third party payment processor so the breach has been able to access information on the mastercard accounts. another report says that visas customer accounts may be compromised as well. i made calls to mastercard and visa, haven't heard back from them. also put out calls to major banks, jp more gun and city bank as well. it could affect up to ten million cards. again, mastercard saying that their own cards haven't been compromised, that the breach came from a third-party payment processor. >>> as americans catch mega millions fever, gary kominski has experience advising people. >> you want to know why i have no experience winning the lottery? because i never played tu but i did buy tickets today. >> these are
the broader market as the supreme court hears arguments about the health care law. aetna all outperforming. reports that mastercard and visa are part of a major security breach. on that note, let's get to mary thompson who has details on that. carol? >> mastercard says importantly that its own systems have not been breached. rather, reportedly, this came from a third party payment processor so the breach has been able to access information on the mastercard accounts. another report says...
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Oct 9, 2012
10/12
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. >> is there a china law in this country? a china lobby saying stay away from them because we need them so badly? >> i don't know. >> a lot of companies need to sell to china. the last thing they want to do, i don't think they want to hear about a trade war, given they own so many kentucky fried chickens in china. >> there's a trillion dollars in treasury bonds pretty strong lobbying. >> that's true. that's true. >> i think you're right. the main thing about china is it is more complicated that it seems. >> finally, a couple interesting notes on banks, david, the makenzie report saying the business model will provide sustainable profits and there's a poll of bankser who believe their numbers will get better, not worse. >> optimism never dies when it comes to people's pay. you look around them to see everything falling down but i was a star. i served to get paid well. we talked a lot about it. i think when you talk to the executives who run many of the global institutions, it is coming down in a true way. it's a seminole chang
. >> is there a china law in this country? a china lobby saying stay away from them because we need them so badly? >> i don't know. >> a lot of companies need to sell to china. the last thing they want to do, i don't think they want to hear about a trade war, given they own so many kentucky fried chickens in china. >> there's a trillion dollars in treasury bonds pretty strong lobbying. >> that's true. that's true. >> i think you're right. the main thing about...
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Mar 8, 2012
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by extension european union law. we should note that the pbi following that audit has recommended that facebook also implement those changes here in the united states. billy hawks is data protection commissioner in ireland. a pleasure to speak with you. >> my pleasure. interest what w . >> what are the concerns exactly? >> i think the main concern is that better transparency that we should all know what's happening behind will the scenes with our information. that facebook should explain better to the many consumers who use the service how exactly it operates. it should give tell more choice in terms of the privacy settings. and the general approach of giving more control out of the individual which is also the sort of value that the white house has put out in its recent privacy bill of rights. in other words, we should give the individual more control over what happens on their personal da da data. >> i'm assuming that you know exactly whaps with all the day a. consumers may have a glimpse of it or an idea of what m
by extension european union law. we should note that the pbi following that audit has recommended that facebook also implement those changes here in the united states. billy hawks is data protection commissioner in ireland. a pleasure to speak with you. >> my pleasure. interest what w . >> what are the concerns exactly? >> i think the main concern is that better transparency that we should all know what's happening behind will the scenes with our information. that facebook...
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Mar 29, 2012
03/12
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of becoming law. both sides positioning themselves, republicans trying to say they're for developing american energy sources, the president is not. also trying to say, therefore, controlling the deficit, curbing entitle entitlements. the president, on the other hand, is saying, i am for a balanced plan. i'm trying to have a strategy, and they're standing with the oil companies which, as you know, carl, is not very popular with the american voters and that's what it's all about. >> why not invest in oil and gas in this country? it's plentiful, almost too plentiful. he talks about zero ways we can put net gas to use. >> he's been talking about net gas, not so much in these remarks today, but the president has tried to make the case that he is, in fact, embracing natural gas and i think the policy reflects that. there are questions, obviously, about the possibility of fracking and some techniques that have concerned some environmentalists, but the president is trying to talk about natural gas and he has
of becoming law. both sides positioning themselves, republicans trying to say they're for developing american energy sources, the president is not. also trying to say, therefore, controlling the deficit, curbing entitle entitlements. the president, on the other hand, is saying, i am for a balanced plan. i'm trying to have a strategy, and they're standing with the oil companies which, as you know, carl, is not very popular with the american voters and that's what it's all about. >> why not...
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Apr 17, 2012
04/12
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third, congress should give the agency responsible for overseeing law markets, new authority to protect against volatility and excess speculation by making sure that traders can post appropriate margins, which simply means they actually have the money to make good on their trades. congress should do all of this right away. you know, a few weeks ago if congress had the chance to stand up for families already paying an extra premium at the pump, congressional republicans voted to keep spending billions of americans' hard-earned tax dollars on more unnecessary subsidies for big oil companies. so here's a chance to make amends. a chance to protect consumers based on oversight of energy markets. that should be something that everybody, no matter their party, should agree with. and i'm hoping members of congress will ask their parties to stand up. in the meanwhile, we'll take better steps to analyze trading activity in energy markets and quickly eliminate the consumer protections under wall street reform. let me close by saying none of these steps by themselves will bring gas prices down over
third, congress should give the agency responsible for overseeing law markets, new authority to protect against volatility and excess speculation by making sure that traders can post appropriate margins, which simply means they actually have the money to make good on their trades. congress should do all of this right away. you know, a few weeks ago if congress had the chance to stand up for families already paying an extra premium at the pump, congressional republicans voted to keep spending...
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Feb 27, 2012
02/12
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-- with your in-laws. i think that's very good. he talks about hormones. he's got the lighter touch. >> for all the criticism he's getting this weekend, it's something to look at the relative table berkshire versus system -- s & p. >> i look at that and say why don't you have apple. too critical? >> maybe. >> thanks. you're supposed to say no. >> thank you. it's your first day here. weep should have a couple days. thank you. i appreciate that. >> any time. >> are you going to be comfortable do you think? you're going to turn around from time to time and work on the screen. >> here's a stock. this is a company that needed -- this company was on my show a couple times. they had a gigantic funding gap. that was answered this morning by blackstone. $2 billion. wow. this company is going to make it. it was always a binary company or the company goes under. suddenly blackstone salvation. cnq, by the way, a great performer, will probably continue. >> all right. >> you know what the great thing about these plasmas
-- with your in-laws. i think that's very good. he talks about hormones. he's got the lighter touch. >> for all the criticism he's getting this weekend, it's something to look at the relative table berkshire versus system -- s & p. >> i look at that and say why don't you have apple. too critical? >> maybe. >> thanks. you're supposed to say no. >> thank you. it's your first day here. weep should have a couple days. thank you. i appreciate that. >> any...
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May 30, 2012
05/12
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there's nothing in canadian law. they didn't potash. >> well, they have the option of going down the road, but they have to prove the case to do that. it's not as though they can turn the switch. >> that's actually, in u.s. law, you have to prove the case oftentimes outside the united states, you don't. >> thanks, guys. >> thank you. >> you might have noticed the bottom of your screen with the euro breaking 125. this is a two-year low on the euro. actually, we're below right now. and no coincidence here. we're sitting low on the s&p 500 as well. so as the euro is sitting session, so is the u.s. >> this is what's carry. it's also getting hammered. >> absolutely. >> previously scheduled speech, but the press rules may have been changed. now, being off the record, is there any expectation that he could go somewhere unexpected? >> last night, he was telling the rest of europe that they need to have some brave decisions. the market is waking up to the idea that the solutions are further down. but i am not sure. that is wh
there's nothing in canadian law. they didn't potash. >> well, they have the option of going down the road, but they have to prove the case to do that. it's not as though they can turn the switch. >> that's actually, in u.s. law, you have to prove the case oftentimes outside the united states, you don't. >> thanks, guys. >> thank you. >> you might have noticed the bottom of your screen with the euro breaking 125. this is a two-year low on the euro. actually, we're...
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Oct 26, 2012
10/12
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the law doesn't necessarily distinguish like -- between those. i would think they would not have been better off saying nothing, but given the choice between saying nothing and lying, i think saying nothing was a better choice. >> usually is. harvey, appreciate it. thank you. >>> still ahead in the show, can a las vegas hotel room actually make you feel better? the mgn grande in sin city hoping to do just that. we'll take you live for the latest on mgm's stay well rooms. >>> vegas gets a first today. hotel rooms designed to make you more healthy. the 44 wellness rooms debut at the mgn grande. each room has features designed to reverse jet lag and better regulate your body, while they say removing toxins and allergens. the hope is that health-conscious travelers will pay 20% to 30% more to stay in them. we have the features, co-founder, and president and coo of mgm grande drove the project through. both of them joining us live. thank you for joining us. we actually sent a camera crew to the rooms. >> great. >> the first thing we shot here is the s
the law doesn't necessarily distinguish like -- between those. i would think they would not have been better off saying nothing, but given the choice between saying nothing and lying, i think saying nothing was a better choice. >> usually is. harvey, appreciate it. thank you. >>> still ahead in the show, can a las vegas hotel room actually make you feel better? the mgn grande in sin city hoping to do just that. we'll take you live for the latest on mgm's stay well rooms....
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Mar 20, 2012
03/12
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the law of large numbers takes over. now, the imports slowed to 11% in 2011 and now they're talking about single digits. this is not a big surprise, but you would have thought the rest of the world didn't understand this. look at the effect it's having on some of the iron ore companies, including bhp billiton, which is having a tough day. not an impossible day. but rio, vale, and even machinery companies like joy global are to the down side here. my point is, this is not that much of a surprise. let me just show you, the same thing with caterpillar. melissa just mentioned, machinery sales globally up 29%, 39% in north america. this seems to be a big shock to people who are in caterpillar. yet, if you look at their comments and projections, their numbers last year were unbelievably off the charts. same thing, unsustainably high. so, here's machinery sales and this is the key division to look at. february 2012, okay, we've already got the number, up 21%. but in february of 2011, machinery sales were up 59%! these numbers w
the law of large numbers takes over. now, the imports slowed to 11% in 2011 and now they're talking about single digits. this is not a big surprise, but you would have thought the rest of the world didn't understand this. look at the effect it's having on some of the iron ore companies, including bhp billiton, which is having a tough day. not an impossible day. but rio, vale, and even machinery companies like joy global are to the down side here. my point is, this is not that much of a...
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Mar 27, 2012
03/12
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that's a perfectly terrible law. that should be a state decision. not a federal decision. >> you have a big show tonight. a couple of big guests. >> we have governor john kasich is coming on. paul ryan coming on. looking at the anti-coal, anti-growth business. a little health care, as well. >> sounds like a good one. that's "the kudlow report" tonight. >> thank you for having me. >> annie's begins trading tonight after michael's announced it's looking to go public. when's the read-through now? we'll talk to the rush to go public next. but first, we'll check in with rick santelli and what he's working on for the next hour. good morning, rick. >> don't you just love third hour "squawk on the street"? and coming up, we'll discuss a couple of important headlines that came out regarding this wto meetings in geneva and talk about stocks. the big debate for years is it sustainable? why aren't inflows bigger? finally, yes, we are going to talk about mf and what intent truly means. all at the top of the hour. [ male announcer ] any technology not moving forw
that's a perfectly terrible law. that should be a state decision. not a federal decision. >> you have a big show tonight. a couple of big guests. >> we have governor john kasich is coming on. paul ryan coming on. looking at the anti-coal, anti-growth business. a little health care, as well. >> sounds like a good one. that's "the kudlow report" tonight. >> thank you for having me. >> annie's begins trading tonight after michael's announced it's looking to...
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Mar 26, 2012
03/12
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we have seen so many arguments on different areas of a particular law. what are you going to be focused on in particular, have you checked in with litigation experts, litigation experts, we won't get a decision until june most likely. >> we talked to a number of attorneys and as far as the oral arguments go a lot of it is going to be similar to what which have heard from the lower courts. maybe to see if you could get a sense for where they're leechbing one way or the other. but it's going to be a challenge to get a good read one way or the other. that's probably more to do with a lack of takeoff in a depressed economy, is that right? >> i think it's a fairly favorable environment for managed care in general. the supreme court does report a moderate risk over the next few months. we continue to see a very favor cost trends. >> ifrs fascinated to read over the weekend that the mother of all tax breaks is the 164 billion that is given to those to exempt them from paying tax on their employer insurancea is given to them. if anotherer side of the aisle attem
we have seen so many arguments on different areas of a particular law. what are you going to be focused on in particular, have you checked in with litigation experts, litigation experts, we won't get a decision until june most likely. >> we talked to a number of attorneys and as far as the oral arguments go a lot of it is going to be similar to what which have heard from the lower courts. maybe to see if you could get a sense for where they're leechbing one way or the other. but it's...
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Nov 14, 2012
11/12
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he loved belize because he felt there were no real laws is what he told me. and we'll see what the future holds for mr. mcafee. certainly a fascinating man. >> you're not making a call -- would you ever fear for your own safety when you were with him? >> no, i did not fear for my safety. i went up in one of those things, that was probably against cnbc policy. i did go up in one. that was great. he has a fleet of those trying to turn into a tourist attraction as well. when i did go to his home at night, it did have a james bond villain type of feel to it. he was playing the piano. it was dark. we came in by boat. i did feel as though, okay, this is interesting. >> entries in the shape of his head? >> there wasn't. the eerie piano playing was unsettling. >> you, of course, were james bond. more of a daniel craig. >> i'll take that. >> i think daniel craig is -- well, i'm a guy. he's the hottest guy in the world. >> don't do that. be nice to me. >> get away from me. >> when we come back, we'll cover the bases on the fiscal cliff including potential impact on hou
he loved belize because he felt there were no real laws is what he told me. and we'll see what the future holds for mr. mcafee. certainly a fascinating man. >> you're not making a call -- would you ever fear for your own safety when you were with him? >> no, i did not fear for my safety. i went up in one of those things, that was probably against cnbc policy. i did go up in one. that was great. he has a fleet of those trying to turn into a tourist attraction as well. when i did go...
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May 17, 2012
05/12
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>> one of my favorite tweets, josh brown writes, in jest, walmart will not violate the 1999 federal law that says its stock must trade between 50 and 60. >> splay been an amendment. constitutional amendments do pass. there is something interesting that's happening. i love dollar tree, but could walmart finally be waking up to the dollar offerings and recognize they have to shore up their bottom end? i think that it wall mars has been losing share to dollar stores. they may have changed the skews. this is a company that duke has done a good job. he's done take good job. >> the turn around in same store sales is proof in the putting of that. and they cite increasing pricing separation from other retailers and it that may speak to the point that it is pricing better to some of the dollar tree stores gaining in general merchandise and some of the grocery items that it had struggled with for so long. >> they changed their mix. they've gone much more toward natural foods. but sears had great numbers. >> gentlemen. making jcp -- you pulled out the long nines on jcp. >> the night of the long ni
>> one of my favorite tweets, josh brown writes, in jest, walmart will not violate the 1999 federal law that says its stock must trade between 50 and 60. >> splay been an amendment. constitutional amendments do pass. there is something interesting that's happening. i love dollar tree, but could walmart finally be waking up to the dollar offerings and recognize they have to shore up their bottom end? i think that it wall mars has been losing share to dollar stores. they may have...
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Sep 24, 2012
09/12
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isn't there an element of moore's law built into technology these days where the time in which a full cycle will take place will be much more compressed. so that time that we are into the smartphone cycle could actually be part e along than we think? >> yeah, that's why i say ten years rather than 20. i've heard that you have another five years in the smartphone cycle and then we'll switch over to wearable computing. apple's clearly been working on the technology for quite some time. we'll transition to that. but i think that's still at least five years away. >> nick, thanks for your time. >> thank you. >> that is the bull case there. he's laid out the bull case scenario. and that may be exactly what is in the price now. i think those expectations, that broader view of where we might be going on the rotation of the cycles. that could be it. that could be the point at which you sell. arguably. because there's no further catalyst. what was the further catalyst that he named in there. >> wearable computing -- as long as apple manages to continue making product that is people want -- >> s
isn't there an element of moore's law built into technology these days where the time in which a full cycle will take place will be much more compressed. so that time that we are into the smartphone cycle could actually be part e along than we think? >> yeah, that's why i say ten years rather than 20. i've heard that you have another five years in the smartphone cycle and then we'll switch over to wearable computing. apple's clearly been working on the technology for quite some time....